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Sale of Guest House Property Capital Gains

Considerations for Capital Gains on the sale of a Guest House

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Hi All,

I apologise if this question has been asked before, but I couldn't find it in a search on Any Answers, and given some changes from Entrepreneurs to Business Asset Disposal Relief, I wanted to ask for some opinions, guidance or things to look out for.

My client has a Guest House, which he is selling.

We have calculated a proportion of the property that has been solely private use and is his only property/main home.

My question here is on reliefs, because I have never done the sale of a Guest House.
The property is being sold as a Guest House. He has occupied the main home section of the property for his whole period of ownership and he has owned it for about 8 years.

- For Capital Gains rate: Will the gain be considered under the Residential Property rate? 18/28% or under the 'Other/Business Property' 10%/20%

- Could he claim Business Asset Disposal Relief, thereby paying the 10% rate?

I would be very grateful for some guidance on this and any other things I should be looking at.

Thank you in advance for your time and help.

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By Anonymous.
25th Nov 2020 11:51

If you type "Sale of Guest House Property Capital Gains" into Google search, you get many hits including numerous ones for this site.

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